[tlm724] ok now let me point something very important out to you
[tlm724] look at what BondLady pointed out "plus 1 and 2 dinars for coins. The designs have been already chosen for banknotes and coins"
[tlm724] that the new currency will be issued in denominations of 5, 10, 25, 50, 100, and 200 dinars for banknotes and 25, 50, 100, 250, and 500 fil
[tlm724] so yes we do not know for certain what the large triple zero notes are intended for at this point but what we do know is this
[tlm724] how can they introduce such low denoms, the math is almost impossible 5, 10 fils
[lightingcslt] not at 1166
[tlm724] coins of miniscule value, why ??
[Mikey] and 25, 50, 100, 250, and 500 fil
[tlm724] Mikey right !
[tlm724] so everyone has a differing opinion on this and that is okay but if you think logically about logistics and mathematical equations this just doesn't fit at a current value of 1166 dinars per dollar !
[tlm724] ok lets open for discussion please
[Broncoroper] okay very good tlm724 !!!
[BondLady] coins of miniscule value= mini scale
[lightingcslt] tlm724 they have been reprinting the large notes to replace them
[BondLady] worn and torn ones ,in other words small, penny dime etc
[rsp1] like our coinage
[tlm724] members please join us in this discussion, now's your chance we want your opinions please
[tlm724] right BondLady !
[oldbarbie] tlm724 they are getting ready to rv *hallelujah*
[cave] what is a penny and a dime worth at 1166
[tlm724] cave my point exactly
[rsp1] high fiver to ol' barb
[therealbubbie] this imo is how I feel ... the way we think it will go .. and the way they know it's going to go could be two different things .. in other words until it happens I don't trust them one bit !!
[lightingcslt] therealbubbie well of course
[dianna] not at 1166 maybe 1- 1
[tlm724] good points ! please continue
[therealbubbie] here's a question . if they go 1-1 from 1166 .. what percent of an increase on the return on our money !!
[cave] therealbubbie alot
[rsp1] wheelbarrel race to light's hot dog stand so I have something to eat while waiting to cash in!
[dianna] dont know what to say ! You said it all very well timmy
[therealbubbie] cave what's a lot ?
[cave] over 1000% i think 3000 ?
[shunshine] So do you think these have already been printed?
[rsp1] You quoted an article earlier that they want to be the most valued money...
[tlm724] shunshine they are printed and the 250, 500 and 1000 have been issued, they are on the street
[shunshine] I was thinking that also. jmo
[seashell63] since most of the currency is damaged which allows for counterfeit transactions,could it be they wanted the new larger notes as a means of reducing loss when exchanging for the smaller categories ?
[tlm724] seashell63 that's certainly possible
[therealbubbie] ok if it's a 1000 - 3000% has that return ever happened with any currency !!
[cave] therealbubbie Kuwait, Germany maybe ?
[therealbubbie] cave Kuwait hmmm ya better google that !
[lightingcslt] look it doesn't matter with what we read yesterday or the day before the CBI took the restrictions off the banks to bring those large notes in
[dianna] if they want to be the most valued money they need to come out higher then Kuwait ?
[lightingcslt] to prepare to bring out the new denoms
[shunshine] Don't see that happening at first dianna but I could be wrong.
[dianna] I know
[tlm724] dianna they are making statements of grandeur but that could also indicate growth over time as well
[dianna] amen I can see 1-1 at first
[tlm724] dianna per [BondLady] if they did say drop 166 off the rate take it to 1000 the people would benefit from that increase and would still change them in for USD so that wouldn't really help them all that much except it would get them moving in the right direction to bring in a 1-1
[dianna] yes amen ok
[dianna] so what do u think they might would start off at?
[rsp1] I don't think they have enough in reserves/gold to reinstate...
[rsp1] Am I wrong? Anyone?
[tlm724] rsp1 no one knows if they will RI but they have 180 billion in assets abroad, 100 billion in reserves and 90 tons of gold, they have plenty to back the dinar imo
[tlm24] at what rate NO ONE KNOWS
[oldbarbie] rsp1 imo i think they can but who knows
[therealbubbie] I'll be curious to see on May 3rd or so if they drop the market price again .. !! ... like they did n April 3 .. !
[therealbubbie] lightingcslt hey dogz was right .. something did happen with the dinar in jan ... just not what he expected !
[Mikey] I know this will happen...and is a fluid situation.... What I don't know .. is this fluid water or cold molasses lol
[lightingcslt] look we can all speculate all we want truth is we won't know until it comes down and that's it in a nutshell -- good chat though all and ty tlm724
[dianna] timmy you are amazing ty
[rsp1] ruffled some excited feathers today, timmy. ty.
[tlm724] I want to ask the members two questions, I'm not done yet
[tlm724] 1st question: when Bondlady did a chat months back and pointed this out the IMF said" Iraq liberalize your foreign exchange regime " what do you all think that meant please ?
[raindrop1] tlm724 - to open it up
[tlm724] its not a test just a question lol
[tlm724] raindrop1 yes
[therealbubbie] make the move at increasing your money !
[lightingcslt] to broaden it
[cave] put mechanisms in place so it doesn't fail
[tlm724] cave great point !
[tlm724] ok second question
[cave] tlm724 I' m not just good looking lol
[therealbubbie] cave thats right your not ! lol
[tlm724] 2nd question: when the IMF told Iraq to get their exchange rate in order to comply with article 8 requirements what do you think that meant ?
[lightingcslt] to make the Iraqi dinar tradeable to the world
[dianna] Get it Ready, RV this thing ?
[tlm724] dianna well in a way
[shunshine] To sustain the country to move forward.
[dianna] good answer
[tlm724] shunshine indeed !
[tlm724] ok lets do the 1st question --the IMF said" Iraq liberalize your foreign exchange regime " to liberalize means to loosen the reins -- to allow more entities to participate in the currency market and the CBI just did that !
[shunshine] correct loosen is the magic word. Amen !
[tlm724] so check that off the list as they are complying
[tlm724] second question
[tlm724] the IMF told Iraq to get their exchange regime in order to comply with article 8 requirements
[rsp1] Real value...
[tlm724] the most important requirement for this is to have a non fluctuating spread of the value between the official rate and the market rate
[rsp1] PERMANENTLY - I believe is the word they used.
[tlm724] and we just saw this week exactly how the CBI is achieving this requirement
[shunshine] Yes they did rsp1
[tlm724] they have eliminated the middle man in currency trading and that gives them much more control over the market price !
[shunshine] smart move imo, get rid of middle man.
[therealbubbie] "the most important require for this is to have a non flucuating spread of the value between the official rate and the market rate" ... thats why I said we need to look at what happens to the market rate come May 3rd . see if they change it like they did in April
[tlm724] so now the CBI controls the market price thus creating stability AND will keep it that spread within the 2 % threshold set by the IMF !
[tlm724] therealbubbie exactly !
[tlm724] I do not care what anyone says or how they weave the facts put before them. All I know is how I have been taught by BondLady, to go by the facts and the actions of those involved and imo we are watching Iraq do exactly what we have been waiting for !
They are taking the steps REQUIRED of them to increase the value of the dinar and it is being done the right way according to international standards and best practices as set forth for by the IMF and the BIS !
[tlm724] ok I am done
[BondLady] ty applause
[shunshine] tlm724 tyvm
[raindrop1] tlm724 -superb!!!
[rsp1] High five girl
[dianna] Your great timmy ty and thank you Bondlady
[tlm724] tyvm I have an awesome teacher !!
[rsp1] Yes, we do...Thank you Bondlady
[shunshine] Yes, we are very lucky to have such great minds here. Thank you Bondlady and staff.